Michael Farese Sells 1,813 Shares of QuickLogic (NASDAQ:QUIK) Stock

QuickLogic Corporation (NASDAQ:QUIK) Director Michael Farese sold 1,813 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $9.91, for a total value of $17,966.83. Following the transaction, the director directly owned 39,340 shares of the company’s stock, valued at $389,859.40. This trade represents a 4.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

QuickLogic Stock Down 1.7%

QUIK stock opened at $9.32 on Friday. The company has a market cap of $159.28 million, a price-to-earnings ratio of -10.36 and a beta of 0.60. QuickLogic Corporation has a twelve month low of $4.26 and a twelve month high of $10.14. The business has a 50 day moving average price of $8.09 and a two-hundred day moving average price of $6.93. The company has a quick ratio of 1.14, a current ratio of 1.18 and a debt-to-equity ratio of 0.02.

QuickLogic (NASDAQ:QUIK) last announced its quarterly earnings data on Tuesday, March 3rd. The semiconductor company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06). QuickLogic had a negative return on equity of 45.83% and a negative net margin of 107.70%.The company had revenue of $3.73 million for the quarter, compared to the consensus estimate of $3.50 million. Analysts anticipate that QuickLogic Corporation will post -0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on QUIK shares. Lake Street Capital began coverage on shares of QuickLogic in a research note on Monday, February 9th. They issued a “buy” rating and a $10.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of QuickLogic in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its stake in QuickLogic by 246.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 4,902 shares during the period. Stratos Wealth Advisors LLC acquired a new stake in QuickLogic during the 3rd quarter valued at $71,000. Squarepoint Ops LLC bought a new position in QuickLogic during the fourth quarter worth $84,000. Dimensional Fund Advisors LP bought a new position in QuickLogic during the fourth quarter worth $102,000. Finally, Prospera Financial Services Inc increased its holdings in shares of QuickLogic by 8.9% in the third quarter. Prospera Financial Services Inc now owns 17,050 shares of the semiconductor company’s stock valued at $103,000 after purchasing an additional 1,400 shares during the last quarter. 31.54% of the stock is currently owned by institutional investors.

QuickLogic Company Profile

QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor company that specializes in ultra-low power, multi-core sensor processing System-on-Chip (SoC) solutions and embedded field programmable gate array (eFPGA) intellectual property. The company’s products are designed to enable always-on, voice-activated, and vision-driven applications at the edge, delivering a balance of performance, flexibility, and power efficiency. QuickLogic’s technology is often deployed in consumer, mobile, and industrial IoT devices, where minimizing energy consumption is critical.

Among QuickLogic’s key offerings is the EOS™ family of sensor processing SoCs, which integrate ARM Cortex-M cores alongside proprietary sensor fusion and neural network engines, coupled with customizable FPGA fabric.